Femi Otedola, the Chairman of First HoldCo Plc, has bolstered his ownership in the financial institution to 21.96 percent. This follows the acquisition of 706.13 million additional shares, representing a total value of N77.58 billion.
A regulatory filing submitted to the Nigerian Exchange (NGX) confirmed the purchase. These shares were secured via Calvados Global Services Limited, Otedola’s investment arm. Consequently, the total volume of shares under his control grew from 9.28 billion to 9.986 billion.
With the stock closing at N105 per share, Otedola’s total investment in First HoldCo is now worth N1.048 trillion. This marks a significant climb from the N566.43 billion valuation recorded on June 18, 2026. This move follows a previous investment in June, where the chairman acquired 680 million shares via a private placement valued at N29.6 billion. The latest acquisition occurred just one day after First HoldCo achieved a historic market capitalization milestone of N5 trillion during intraday trading, solidifying its status as a premier banking institution in Nigeria.
